Beyond Meat Rallies As McDonald's Announces Testing Of Plant-Based Burger In Canada

Beyond Meat Inc BYND shares were trading higher in Thursday's premarket session on news that McDonalds Corp MCD will test its new plant-based burgers in Southwestern Ontario, Canada.

The 12-week test is for a plant-based burger called the P.L.T. — plant, lettuce and tomato — in 28 locations. 

The burgers will be priced at CA$6.49 ($4.90) and are available beginning Sept. 30.

“During this test, we’re excited to hear what customers love about the P.L.T. to help our global markets better understand what’s best for their customers,” Ann Wahlgren, McDonald’s VP of global menu strategy, said in a statement.

“This test allows us to learn more about real-world implications of serving the P.L.T., including customer demand and impact on restaurant operations.” 

A number of mainstream fast-food restaurants are joining the meat-free revolution this year and adding plant-based products to their menu.

Beyond Meat shares were trading up nearly 11% at $138.32 in the premarket session. The stock has a 52-week high of $239.71 and a 52-week low of $45.

Related Links:

Beyond Meat Won't Be Entering The Japanese Market Yet

Subway Partners With Beyond Meat To Trial Beyond Meatball Sub

Photo courtesy of McDonald's.